At the beginning of the year, accounts receivable were $158,000 and the allowance for bad debts was $12,900. during the year, sales (all on account) were $614,000, cash collections were $594,000, bad debts expense totaled $18,400, and $13,400 of accounts receivable were written off as bad debts. required: calculate the balances at the end of the year for the accounts receivable and allowance for bad debts accounts. (hint: use t-accounts to analyze each of these accounts, plug in the amounts that you know, and solve for the ending balances.)

Accounts Receivable is = $164,600

Allowance for bad debts = $17,900

Explanation:

Given data:

Receivable amount = $158,000

Bad debts allowance =$12,900

sales = $614,000

cash collection =$594,000

Bad debts expense =$18,400

Account receivable as bad debt = $13,400

from the information given

Accounts Receivable is = $158,000+ $614,000 - $594,000 -$13,400

Accounts Receivable is = $164,600

Allowance for bad debts = $12,900 + $18400 - $13,400

Allowance for bad debts = $17,900

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1. c

2. b

3. a

4. c

5. a

6. b

7. c

8. c

9.b

10. d

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